The short-term outlook for the stock of IRB Infrastructure Developers is bearish. The stock fell 4.5 per cent on Wednesday. Strong resistance is seen in the ₹250-₹253 region. This resistance zone capped the upside over the last few days prior to the fall seen on Wednesday. As such any intermediate bounce towards ₹250 is more likely to restrict the upside. As long as the stock trades below ₹253, the chances are high for it to fall towards ₹215-₹210 initially and then to ₹200 over the next two-three weeks.

Traders can go short at current levels. Accumulate shorts on rallies at ₹248. Keep the stop-loss at ₹256. Trail the stop-loss down to ₹233 as soon as the stock falls to ₹225. Move the stop-loss further down to ₹223 as soon as the stock touches ₹219 on the downside. Book profits at ₹217. The bearish view will get negated only on a strong break above ₹253. That can open doors for a fresh rise to ₹270. But such a strong upmove looks less likely as the price action on the charts favours a fall from here.

(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)